A receiving syndicate is defined here as a syndicate that intends to underwrite the legacy transaction and accepts the transferred insurance liabilities from the ceding syndicates. They take on the risk and responsibility for the ceded policies and must ensure they have adequate capital and capabilities to manage the new business and meet regulatory requirements.
This section details the responsibilities and requirements for receiving syndicates in legacy reinsurance transactions. It covers the documents submission requirements, the necessary capital adjustments and integration plans that receiving syndicates must provide to ensure a smooth transition and compliance with Lloyd’s regulations.
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